Binance has announced that it has successfully completed its major system upgrade and will resume its trading services at 13:00 UTC on 15th May.

Leading cryptocurrency exchange Binance has ‘announced‘ that it has successfully completed its major system upgrade and will resume its trading services at 13:00 UTC on 15th May.

Within the recent ‘security breach‘ earlier this month, Binance lost over 7,050 Bitcoins [BTC] and therefore froze its deposits and withdrawals services altogether before a restricted return to operations this week.

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An another notice ‘outlined‘ that the developers would be completely shut-down the functionalities for a time period of up to 8 hours on Wednesday, starting at 03:00 UTC.

However, little details were mentioned regarding the work, that were recently completed as scheduled. Now, Binance is getting ready to open up full its previous suite of trading options, together with deposits and withdrawals, for all users.

“Binance has completed its system upgrade and will resume its all trading activities at 1:00 PM [UTC],” a new statement added. It further states:

“From now till the commencement of trading, users would be able to cancel open orders, process deposits and use several account linked functions. Please note that the withdrawal function would be accessible shortly after the trading is resumed.”

Binance’s hack caught the cryptocurrency community swiftly once it emerged $41 Mln of funds had gone missing from some user accounts.

However, Binance admitted liability for the attack, recently after the hack urging users to read and comply with a series of fourteen ‘security precautions‘ to safeguard funds on the exchange.

As a form of ‘compensation‘ to users unable to use their accounts as they were earlier, Binance conjointly proclaimed a giveaway involving its in-house token, BNB [Binance Coin].

During a promotional time period that would last by 18th May, users trading over 1 BTC priced funds can share in a prize pool of 50,000 BNB [around $1.26 Mln at the reporting time], to be credited two weeks later.

As ‘reported‘ by EtherDesk earlier, another renowned cryptocurrency exchange namely ‘Cryptopia’, that lost around $17 Mln in January, recently announced the complete shut-down of its operations.